Weekly Market Update: August 10, 2026
Week Ending August 7, 2026:
S&P 500: +2.07%
NASDAQ Composite: +3.00%
Dow Jones Industrial Average: +1.61%
Market Takeaway
U.S. equity markets finished the week ending August 7 higher, with the S&P 500, NASDAQ Composite, and Dow Jones Industrial Average all posting gains.
The S&P 500 rose 2.07%, the NASDAQ Composite gained 3.00%, and the Dow Jones Industrial Average increased 1.61%. The NASDAQ led the three major indices during the week.
The week included fresh market highs, a busy earnings calendar, and several important economic reports. Based on the information provided, the S&P 500 reached a new high on Wednesday, August 5, the Dow reached a new high on Wednesday, August 5, and the NASDAQ reached a new high on Friday, August 7.
Earnings results remained a major focus. Palantir, AMD, SpaceX, Eli Lilly, Disney, and Uber each reported results during the week. The earnings data provided showed several EPS beats, although Disney and Uber reported revenue below expectations.
Economic data was mixed. Manufacturing and services activity remained in expansion, productivity improved, and the trade deficit narrowed. At the same time, labor-market data weakened, with JOLTS job openings declining and nonfarm payroll employment falling in July.
Overall, the week reflected positive index performance, strong earnings attention, fresh market highs, and a mixed economic backdrop.
Thematic Drivers of the Week
1. Major Indices Reached Fresh Highs
What happened:
All three major U.S. indices finished higher for the week.
The S&P 500 rose 2.07%, the NASDAQ Composite gained 3.00%, and the Dow Jones Industrial Average increased 1.61%.
Based on the information provided, all three major indices also reached all-time highs during the week.
Why it mattered:
Fresh highs can show that market sentiment improved during the week.
This does not mean markets move higher in a straight line. It simply shows that buyers were active enough to push major indices to new levels during the week.
Market reaction:
Markets finished higher across the major indices. The NASDAQ led the week, while the S&P 500 and Dow also posted solid gains.
2. Earnings and Technology Leadership Remained in Focus
What happened:
Several companies reported earnings during the week, including Palantir, AMD, SpaceX, Eli Lilly, Disney, and Uber.
Based on the earnings data provided, all six companies reported EPS above expectations. Disney and Uber reported revenue below expectations, while the others reported revenue above expectations.
Information Technology was the best-performing sector based on the data provided. Nvidia’s weekly move was identified as one contributor to the strength in technology and semiconductor-related names.
Why it mattered:
Earnings reports help show how companies are doing.
They can give investors a better view of sales, costs, demand, and profit trends. This week, earnings were especially important because investors were watching technology, AI-related demand, semiconductors, healthcare, space, media, and platform companies.
Market reaction:
The broader market moved higher, and technology leadership fit the positive weekly tone.
Still, results were not the same across every company. Some companies beat both EPS and revenue expectations, while others beat EPS but missed revenue expectations.
3. Economic Data Sent Mixed Signals
What happened:
Several economic reports were released during the week.
ISM Manufacturing PMI rose to 55.6 in July, and ISM Services PMI came in at 54.1. Both readings were above 50, which points to expansion.
JOLTS job openings declined to 7.359 million, while hiring increased to 5.348 million. The trade deficit narrowed to $73.3 billion. Productivity increased 1.4% annualized in the second quarter, while unit labor costs increased 1.3%.
The Employment Situation report showed nonfarm payroll employment fell by 23,000 in July, while the unemployment rate was 4.1%.
Why it mattered:
The data did not all point in the same direction.
Business activity still looked positive in manufacturing and services. Productivity also improved. At the same time, the labor market showed signs of weakness.
Market reaction:
Markets moved higher for the week while investors reviewed several different signals.
The data showed growth in parts of the economy, but also softer labor-market conditions. That created a mixed backdrop beneath the positive index returns.
Earnings Recap: Key Companies in Focus
Palantir (PLTR) - Reported August 3
Results:
Estimated EPS: $0.35
Actual EPS: $0.41
Result: Beat by 18.27%
Revenue: Beat by 6.85%
Takeaway:
Palantir reported EPS and revenue above expectations based on the earnings data provided. The results may provide insight into AI-related software demand, government customer activity, and commercial customer activity.
AMD (AMD) - Reported August 4
Results:
Estimated EPS: $1.61
Actual EPS: $1.66
Result: Beat by 3.21%
Revenue: Beat by 2.01%
Takeaway:
AMD reported EPS and revenue above expectations based on the earnings data provided. The results may provide insight into semiconductor demand, data center spending, AI infrastructure, and PC-related activity.
SpaceX (SPCX) - Reported August 4
Results:
Estimated EPS: -$0.21
Actual EPS: -$0.09
Result: Beat by 57.94%
Revenue: Beat by 14.59%
Takeaway:
SpaceX reported EPS and revenue above expectations based on the earnings data provided. The report may provide insight into space-related technology, launch activity, connectivity, and investor interest in the space sector.
Eli Lilly (LLY) - Reported August 5
Results:
Estimated EPS: $6.58
Actual EPS: $8.38
Result: Beat by 27.27%
Revenue: Beat by 11.06%
Takeaway:
Eli Lilly reported EPS and revenue above expectations based on the earnings data provided. The results may provide insight into pharmaceutical demand and broader healthcare spending trends.
Disney (DIS) - Reported August 5
Results:
Estimated EPS: $1.85
Actual EPS: $2.06
Result: Beat by 11.09%
Revenue: Missed by 0.64%
Takeaway:
Disney reported EPS above expectations, while revenue came in below expectations based on the earnings data provided. The results may provide insight into streaming, parks and experiences, media, and consumer demand.
Uber (UBER) - Reported August 5
Results:
Estimated EPS: $0.80
Actual EPS: $0.81
Result: Beat by 0.67%
Revenue: Missed by 0.52%
Takeaway:
Uber reported EPS above expectations, while revenue came in below expectations based on the earnings data provided. The results may provide insight into ride-sharing demand, delivery activity, platform usage, and consumer behavior.
Major Economic Reports Recap
ISM Manufacturing PMI - Released August 3
The July Manufacturing PMI rose to 55.6, up from 53.3 in June. New orders increased to 56.7, while the employment component moved back above 50 at 52.8.
Economic Takeaway:
Manufacturing improved in July. A reading above 50 means activity expanded. New orders and employment also improved, which made the report stronger than the prior month.
JOLTS Job Openings - Released August 4
June job openings declined to 7.359 million, down by about 178,000 from May. Hiring increased by about 96,000 to 5.348 million, while layoffs remained around 1.77 million.
Economic Takeaway:
Job openings moved lower, but hiring increased. Layoffs stayed fairly steady. This showed a labor market that was cooling, but not showing broad job cuts in this report.
U.S. Trade Balance - Released August 4
The U.S. goods and services deficit narrowed to $73.3 billion in June, down from a revised $77.6 billion in May.
Exports declined by $2.9 billion to $314.7 billion, while imports declined by $7.3 billion to $388.0 billion.
Economic Takeaway:
The trade deficit narrowed because imports fell more than exports. That can help GDP math, but falling imports can also point to softer demand. This report was mixed by itself.
ISM Services PMI - Released August 5
The July Services PMI came in at 54.1, up slightly from 54.0 in June. New orders increased to 57.2.
Under the surface, the employment index fell to 47.4, while the prices index rose to 70.3.
Economic Takeaway:
Services activity still expanded in July. New orders improved, but employment weakened and prices stayed elevated. This made the report mixed.
Productivity & Costs - Released August 6
Nonfarm business productivity increased 1.4% annualized in the second quarter. Output increased 1.7%, while hours worked increased 0.3%.
Unit labor costs increased 1.3% annualized. Manufacturing productivity increased 1.9%, while manufacturing unit labor costs were unchanged.
Economic Takeaway:
Productivity improved in the second quarter. That means businesses produced more output for each hour worked. Labor costs also increased, but at a modest pace.
Employment Situation - Released August 7
U.S. nonfarm payroll employment fell by 23,000 in July. The unemployment rate was 4.1%.
Employment declines were partly concentrated in local government education and retail trade, while healthcare continued adding jobs.
Economic Takeaway:
The jobs report was weaker than the other economic reports during the week. Payrolls fell, but unemployment stayed at 4.1%. This showed that the labor market became a key area to watch.
Technical Perspective
Based on the technical notes provided:
All three major indices were above their 50-day moving averages
All three major indices were above their 200-day moving averages
The VIX ended the week at 14.88
The major indices reached all-time highs during the week
Interpretation:
The technical picture improved during the week.
All three major indices were above their 50-day and 200-day moving averages. The VIX moved lower, which showed that volatility eased.
Technical indicators can help provide context, but they do not predict what markets will do next.
Key Takeaways for Investors
U.S. equity markets finished the week higher
All three major indices reached fresh highs during the week
Earnings results were an important focus
Technology and semiconductor-related areas helped lead the market
Economic reports showed both strength and weakness
Manufacturing and services activity expanded
Labor-market data weakened during the week
Sector leadership was uneven, with Information Technology leading and Energy and Real Estate lagging
Weekly market moves can be reviewed in the context of diversification, risk tolerance, time horizon, cash flow needs, and long-term goals
Looking Ahead
Investors will be watching another week of earnings and economic reports.
Key areas of focus include:
Inflation data, including CPI and PPI
Consumer spending and consumer sentiment
Technology, AI infrastructure, and semiconductor earnings
Corporate technology spending and business investment
Labor-market data following the July employment report
Earnings to Watch This Week
CoreWeave (CRWV) - August 11
CoreWeave is scheduled to report second-quarter results on August 11. The report may provide insight into demand for computing infrastructure, corporate technology investment, and growth spending.
Super Micro Computer (SMCI) - August 11
Super Micro Computer is scheduled to report fiscal fourth-quarter results on August 11. The report may provide insight into infrastructure spending, hardware demand, and business investment trends.
Cisco Systems (CSCO) - August 12
Cisco Systems is included on the week-ahead earnings calendar. The report may provide insight into enterprise technology spending, networking demand, and broader corporate IT budgets.
Applied Materials (AMAT) - August 13
Applied Materials is scheduled to report fiscal third-quarter results on August 13. The report may provide insight into business investment, manufacturing demand, and capital spending across the technology sector.
Tapestry (TPR) - August 13
Tapestry is scheduled to report fiscal fourth-quarter and full-year results on August 13. The report may provide insight into discretionary spending, pricing, and demand among higher-income households.
Economic Data to Watch
Consumer Price Index - August 12
The July Consumer Price Index report is scheduled for release on August 12. This report can provide insight into consumer inflation, including headline and core inflation.
Producer Price Index - August 13
The July Producer Price Index report is scheduled for release on August 13. This report can provide insight into price pressure for producers and businesses.
Retail Sales - August 14
The July Retail Sales report is scheduled for release on August 14. This report can provide insight into consumer spending across retail and food services.
University of Michigan Consumer Sentiment - August 14
The preliminary August University of Michigan Consumer Sentiment report is scheduled for release on August 14. This report can provide insight into household confidence and inflation expectations.
Closing Thought
Markets finished the week higher and reached fresh highs, but the details were still mixed.
Earnings were strong in several areas, and activity data showed growth. At the same time, the labor market weakened. Weeks like this are a reminder that market headlines are only one part of the picture. It can be helpful to look at the full set of data and how it fits within a long-term financial plan.
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Disclosure: This market update is for informational and educational purposes only and should not be considered investment advice or a recommendation to buy or sell any security. Market data and company results are subject to revision and interpretation. Past performance does not guarantee future results. Investing involves risk, including the potential loss of principal.
